Abstract
This research study explores the experiences of women about empowerment which are realized through the utilization of microcredit. During the Literature iteration, it was evident that there is a positive verdict between women empowerment and microcredit; also it mitigates the feminization of poverty. This study has gauged the women's life experiences that how they precipitate their thoughts for realizing empowerment with microcredit. This is a qualitative study with abductive research approach, philosophy is hermeneutic phenomenology with the feminist paradigm, and overall research design supports the truth of several subjective perspectives and would help in constructing the meaning of empowerment from the Sindh's context. This study is conducted in the context of Sindh; the respondents are women who availed microcredit from microfinance institutions and banks which are registered under State Bank of Pakistan and Security Exchange Commission of Pakistan. For collecting the data, in-depth interviews have been conducted by using the interview protocol and they have been continued till the saturation level. Under the interpretative phenomenology, nomothetic and idiographic analysis has been practiced for mining the data. From the women's perspectives, it is gauged that small credit empowers women and also strengthen their families. This research would be valuable for the policy maker of microfinance they design policies accordingly.
Highlights
According to Kapila, Singla, and Gupta (2016), growing body of facts proposes that empowerment of women is crucial for the development of the countries and they require financial as well as societal support for realizing this phenomenon and this fact was supported by Banerjee and Sain (2016)
The empowerment is achievable by two ways; the revolution in power and other is the advancement of power
Social, cultural and financial elements are required for achieving and realizing empowerment but Akram and Hussain (2011) and Ali and Alam (2010) deliberated that financial aspect microcredit as an effective tool in strengthening poor people and eminent for the empowerment of women (Dobra & Stiftung, 2011)
Summary
According to Kapila, Singla, and Gupta (2016), growing body of facts proposes that empowerment of women is crucial for the development of the countries and they require financial as well as societal support for realizing this phenomenon and this fact was supported by Banerjee and Sain (2016). Agarwal (2016) endorsed the previous studies and contributed that microcredit is a structured group-based plan in which small loans are provided to poor people or weak segment of the society explicitly poor rural women without any collateral. These programs are designed for the poor who are in the susceptible position through this financial provision they would be able to fight against poverty and fetch self-confidence.
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